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Showing 31 - 40 of 323 results for "Taxpayers"

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
... retirement income products. This in turn will make the administration of Division 296 a whole lot simpler and efficient for taxpayers, regulators, and the superannuation industry."

ATO targets crypto investors, sharing economy

KARREN VERGARA  |  WEDNESDAY, 17 APR 2024
... amount of tax. "Data provided to the ATO includes cryptocurrency purchase and sale information. The data will identify taxpayers who fail to disclose their income details correctly," he said. Those taking part in the sharing economy will also be high ...

Senate Committee endorses Superannuation Objective Bill

ANDREW MCKEAN  |  WEDNESDAY, 3 APR 2024
... led to policy uncertainty, misguided proposals, and reduced retirement savings, ultimately placing a greater burden on taxpayers. "The Objective of Superannuation will importantly benefit and support superannuation members, and support policymakers to ...

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
... people of the future are typically expected to be wealthier because of the superannuation system, and the number of taxpayers is declining as the population ages. The taskforce said it has made its recommendations with the aim of not creating new or ...

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
Australian taxpayers may face an $85 billion bill due to the COVID-era Early Release of Super scheme, according to a new analysis by the Super Members Council (SMC). Using the Superannuation, Pensions, and other Retirement OUTcomes (SPROUT) model, the ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... revenue forgone due to heightened capital gains realisations between 2021 and 2022. Treasury found that over 1.5 million taxpayers reported capital gains, with more than half enjoying the CGT discount, but the distribution of these benefits was markedly ...

Treasury unveils Stage 3 tax cuts changes

KARREN VERGARA  |  MONDAY, 29 JAN 2024
... the threshold for the 37% tax rate from $120,000 to $135,000 (see Figure 1 and 2). Under the recommended package, all taxpayers are promised a lower tax liability. Source: H&R Block Australia Treasury argued that the changes were necessary as the original ...

Albanese set to overhaul Stage 3 tax cuts

KARREN VERGARA  |  WEDNESDAY, 24 JAN 2024
... tax cuts package, flagging that everyone is set to benefit from the changes. Albanese told radio station 2GB that all taxpayers will receive a tax cut. However, those earning over $180,000 will see their promised tax cut reduce while lower-income earners ...

Large Australian corporations pay record tax: ATO

ANDREW MCKEAN  |  THURSDAY, 9 NOV 2023
... Saint explained that tax paid in 2021-22 was the highest since CTT reporting started, showing how Australia's large taxpayers rebounded from COVID-19 and lockdowns. "This is a fantastic result for the Australian community," Saint said. "A combination ...

Super tax break changes open for consultation

KARREN VERGARA  |  TUESDAY, 3 OCT 2023
... analysis by the Financial Services Council of Australian Taxation Office data found a significant portion of Australian taxpayers will breach the cap in their lifetime and 500,000 individuals currently saving for retirement or already retired could be ...